Kuwait issues warning against fake trading platforms

KUWAIT CITY: The Central Bank of Kuwait has warned the public against falling victim to online financial scams involving fake trading and investment platforms.

According to the bank, such schemes often involve fraudulent investment opportunities and suspicious money-transfer operations that could expose individuals to financial fraud and money laundering activities.

In a public advisory, the central bank said scammers frequently use social media platforms and messaging applications to lure victims by promising quick financial returns in exchange for small initial investments.

According to the warning, fraudsters often use anonymous accounts to circulate funds between multiple individuals before asking victims to transfer larger amounts through trading platforms or other channels designed to avoid suspicion.

The bank cautioned that such operations may constitute forms of money laundering and urged residents not to engage with any suspicious investment offers or unofficial financial schemes.

Authorities also advised the public to avoid dealing with unknown individuals or unlicensed platforms that promise unrealistic profits, stressing the importance of verifying the legitimacy of any financial activity before transferring money.

Kuwait targets congestion with new public transport, mobility plans

Meanwhile, Kuwait is accelerating efforts to modernise its public transport system as authorities seek to reduce persistent traffic congestion and improve commuting services nationwide.

Senior officials from the Interior Ministry of Kuwait and representatives of major transport companies held discussions this week on proposed reforms designed to reshape the country’s transport infrastructure and improve mobility on key road networks.

The meeting was chaired by Major General Abdullah Al-Wuhaib, Undersecretary at the Interior Ministry, and focused on strengthening coordination between government departments and transport operators while reviewing plans to enhance existing services and facilities.

Participants examined proposals aimed at improving bus services, route management, passenger safety and service quality as part of Kuwait’s broader urban development plans. Authorities are also looking to encourage wider use of public transport to help ease pressure on overcrowded roads.